Gates Mills, OH—44040
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Gates Mills, OH
As of Nov '25, the median home price in Gates Mills, OH is $689,000, with a year-over-year change of 4.7%. This indicates that home prices in Gates Mills, OH are increasing. According to Zillow, the 1-year price projection is 2.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $689,000 | 4.7% |
| Single Family | $690,000 | 4.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $510,000 | 5.4% |
4 Bed | $718,000 | 4.4% |
| 5 Bed | $1,071,677 | 4.3% |
% of Housing Stock
Rental Trends — Gates Mills, OH
As of July '25, Rentcast reports the average rent in Gates Mills, OH is $4,250, with a year-over-year rent change of 1.7%. Per bedroom, the median rent as of July '25 in Gates Mills, OH is 4-bedrooms: $4,250. The most common rental property sizes in Gates Mills, OH are 3-bedroom and 4-bedroom, accounting for 47.4% and 29.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $4,250 | $4,250 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | $4,250 | $4,250 |
% of Rental Stock
Property Listings — Gates Mills, OH
As of Nov '25, Realtor.com reports that the median days on market for a home in Gates Mills, OH is 101. This is a increase of 5.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $932,000 | -37.0% |
Listing Count | 16 | 2.0% |
| Listings as % of Homes | 1.7% | 2.0% |
Days on Market | 101 | 5.0% |
Demographics — Gates Mills, OH
As of the latest ACS Survey released in 2023, Gates Mills, OH has a population of 3,030, which has increased by 4.4% over the past 5 years. Gates Mills, OH is a moderately popular place for families, as children make up 16.4% of the population. The area has a highly educated workforce, with 62.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 23.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,030 | 4.4% |
% Under 18 | 16.4% | -11.8% |
% Seniors | 29.3% | 10.6% |
% WFH | 23.7% | 60.1% |
% w/ College Degree | 62.4% | -9.8% |
As of the latest ACS Survey released in 2023, Gates Mills, OH is a predominantly white area, with 91.5% of the population identifying as white. The white population has shrunk by 0.8% in the last 5 years. The second most common race or ethnicity in Gates Mills, OH is asian, making up 3.1% of the population. Foreign-born residents account for 12.9% of the population in Gates Mills, OH, and this percentage has increased by 8.4% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 91.5% | -0.8% |
% Black | 2.3% | 283.3% |
% Hispanic | 1.1% | -8.3% |
% Asian | 3.1% | -31.1% |
% Foreign Born | 12.9% | 8.4% |
Mortgage and Risk — Gates Mills, OH
According to HUD data as of 2023, there were 66 mortgage originations in Gates Mills, OH, of which 98.0% of loans were conventional mortgages. The average loan-to-value was 52.0%, with 6.0% above 90% LTV (normal). This implies small mortgage risk in Gates Mills, OH. Investor activity is low, as 0.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 66 |
% Conventional Loans | 98.0% |
% Government Loans | 2.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 9.0% |
Rentals and Section 8 — Gates Mills, OH
Gates Mills, OH lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,490 |
| 2 Bedroom | N/A | N/A | $1,810 |
| 3 Bedroom | N/A | N/A | $2,330 |
| 4 Bedroom | -$1,750 | $4,250 | $2,500 |
Affordability — Gates Mills, OH
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.5 |
| Median Home Price | $689,000 |
| Median Household Income | $167,000 |